Global Insurer reduces operational process time by over 99%
End-to-End Modern Business intelligence solution and automation with data pipelines and cloud data warehousing
A global health and life insurance solutions provider with operations worldwide had challenges in data availability, reporting, and insights, and wanted to improve their MIS functions.
- Insurance product partner reports available only annually and delays in processing data on loss ratios raised risks of underwriting with incorrect premiums on policies
- Reliance on manual data collection from various vendor portals
- Quarterly reporting was cumbersome with manual data preparation taking over 4 days besides Excel file size limitations.
- Inability to view partner broker/distributor performance analysis
- Historic data unavailable and unable to perform trend analysis
- Shortage of resources hampered technology-driven reporting and insights delivery
- Lack of ownership of the reporting process.
After a meticulous vendor evaluation process, BIGINT solutions was the chosen solution provider due to their wide experience in data analytics and business intelligence.
I was amazed at the speed with which they could analyze and propose a totally end-to-end automated solution, unlike others, took a long while for the system study phase. Moreover, their solution is working wonders now and has boosted operational efficiency. – CFO
The team conducted diagnosis to learn more about the challenges, and proposed and implemented a cloud-based data processing and reporting architecture aligning with firm strategic objectives. A new operating model with an automated end-to-end solution was implemented to resolve the business challenges.
Key directives included:
- Data extraction from multiple source systems: CSV, SQL, Excel, and APIs.
- An event-driven Data pipeline system scheduled to initiate on new data arrival.
- Data transformation and consolidation into an Azure Cloud-based data warehouse
- Power BI reporting models and data visualization using analytical dashboards for data insights.
- Sharable data reports in multiple formats
- An end-to-end automated solution to save costs and time.
BIGINT Solutions transformed the client’s reporting and analytics space to deliver an efficient and automated solution resulting in positive and quantifiable business outcomes.
- Quicker reporting: Reports generation time reduced from 4 days to 30 minutes using an Azure cloud-based event-driven data pipeline for data transformation and storage.
- Easier Data availability: Centralized cloud-based data repository enabled combined data related to insured profile, member policies, and premiums, claims, group policies, brokers and distributors, and metadata for both internal and external insurance products enabling historic comparison and trend analysis.
- Improved reports frequency: Reports frequency reduced from quarterly to bi-monthly using end-to-end automated BI solution resulting in faster data availability and improved ability to understand risks, policy movements, and financials for planning and budgeting purposes.
- Real-time data insights: Enhanced reporting capabilities using Power BI models shows actionable intelligence and provided client with strategic edge and cost savings.
- 360-degree views: Leveraging business intelligence with Power BI led to 360-degree views of partner performance and customer portfolios.
Our staff has bandwidth for higher value-added activities now unlike before where they were experimenting trying to get quarterly clubbed data correctly in an excel sheet for days. Highly recommended. Keep up the good work guys! – Managing Director
Area of focus
Data Pipelines, Cloud data warehouse, Business Intelligence, and Reporting, Data Analytics
Azure Storage, Azure SQL, Azure Functions, Power Platform, Power BI
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